M&T Bank Corp lessened its position in shares of Aon PLC (NYSE:AON) by 11.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,334 shares of the financial services provider’s stock after selling 4,324 shares during the quarter. M&T Bank Corp’s holdings in AON were worth $6,612,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in AON. Guggenheim Capital LLC boosted its holdings in shares of AON by 18.6% in the 4th quarter. Guggenheim Capital LLC now owns 76,755 shares of the financial services provider’s stock worth $15,988,000 after purchasing an additional 12,059 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of AON by 4.1% in the 4th quarter. Advisors Asset Management Inc. now owns 1,518 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 60 shares during the period. Pearl River Capital LLC purchased a new position in shares of AON in the 4th quarter worth approximately $241,000. Macquarie Group Ltd. boosted its holdings in shares of AON by 2.7% in the 4th quarter. Macquarie Group Ltd. now owns 108,885 shares of the financial services provider’s stock worth $22,679,000 after purchasing an additional 2,817 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of AON by 23.6% in the 4th quarter. Franklin Resources Inc. now owns 2,955 shares of the financial services provider’s stock worth $615,000 after purchasing an additional 565 shares during the period. Hedge funds and other institutional investors own 84.75% of the company’s stock.
A number of equities analysts have recently commented on the company. Royal Bank of Canada reiterated a “hold” rating and issued a $200.00 target price on shares of AON in a report on Monday, July 20th. Morgan Stanley dropped their target price on AON from $225.00 to $216.00 and set an “equal weight” rating for the company in a report on Wednesday, July 15th. William Blair reiterated a “buy” rating on shares of AON in a report on Tuesday, June 9th. MKM Partners dropped their price objective on AON from $260.00 to $215.00 and set a “buy” rating for the company in a report on Monday, May 4th. Finally, Jefferies Financial Group boosted their price objective on AON from $214.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. AON currently has an average rating of “Buy” and a consensus price target of $209.27.
Shares of NYSE AON opened at $205.22 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.91. The business has a fifty day simple moving average of $194.84 and a two-hundred day simple moving average of $196.09. The firm has a market cap of $47.52 billion, a PE ratio of 29.57 and a beta of 0.88. Aon PLC has a twelve month low of $143.93 and a twelve month high of $238.19.
AON (NYSE:AON) last issued its earnings results on Friday, July 31st. The financial services provider reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.04. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.58 billion. AON had a return on equity of 63.91% and a net margin of 14.84%. AON’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.87 EPS. On average, research analysts expect that Aon PLC will post 9.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, July 31st. AON’s dividend payout ratio (DPR) is presently 19.19%.
In related news, Director Lester B. Knight purchased 70,000 shares of AON stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $195.00 per share, with a total value of $13,650,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, President Eric Andersen sold 1,500 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $199.13, for a total value of $298,695.00. Following the completion of the transaction, the president now directly owns 102,814 shares of the company’s stock, valued at $20,473,351.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,850 shares of company stock valued at $560,250. 0.92% of the stock is currently owned by corporate insiders.
AON Company Profile
Aon plc, a professional services firm, provides advisory and solutions based on risk, retirement, and health to clients. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance provider; and health solutions, such as health and benefits brokerages, and health care exchanges.
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